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Economy of Honduras vs Malawi compared: GDP & Debt

Updated on by Georank

Honduras has a GDP of $39.6B compared to $14.9B for Malawi, ranking 104/197 and 148/197 by economy size, respectively.

Honduras has $16.3B in government debt (41.2% of GDP), compared to $11.7B (78.4% of GDP) in Malawi.

Honduras vs Malawi GDP by year

Honduras
Malawi
1x
Year GDP, current $
Honduras Malawi
2025 $39,601,409,103 $14,918,276,698
2024 $36,980,171,442 $11,311,971,400
2023 $34,355,805,528 $13,363,669,673
2022 $31,426,041,807 $12,429,059,928
2021 $28,144,331,507 $12,378,119,199
2020 $23,352,232,484 $11,769,313,598
2019 $24,882,225,742 $11,051,852,713
2018 $24,067,750,760 $9,879,220,354
2017 $23,136,247,991 $8,943,543,794
2016 $21,717,604,952 $7,909,868,618
2015 $20,979,791,685 $9,219,474,379
2014 $19,756,533,972 $8,801,326,169
2013 $18,499,729,215 $8,031,571,928
2012 $18,528,554,398 $8,773,203,178
2011 $17,710,275,685 $11,648,142,958
2010 $15,839,344,592 $10,128,323,011
2009 $14,587,496,229 $9,009,887,947
2008 $13,881,731,876 $7,743,617,352
2007 $12,361,257,681 $6,451,210,219
2006 $10,917,477,066 $5,818,279,739
2005 $9,757,012,697 $5,320,409,651
2004 $8,869,299,234 $5,058,726,350
2003 $8,230,391,347 $4,669,789,300
2002 $7,858,255,413 $5,087,328,438
2001 $7,651,162,302 $2,498,008,665
2000 $7,186,638,029 $2,537,307,580
1999 $6,394,090,592 $2,584,478,924
1998 $6,163,707,533 $2,547,609,590
1997 $5,569,178,707 $3,875,785,863
1996 $4,798,834,459 $3,319,573,750
1995 $4,672,346,194 $2,033,701,498
1994 $4,105,686,899 $1,719,864,761
1993 $4,190,773,622 $3,013,392,658
1992 $4,122,846,905 $2,618,837,835
1991 $3,699,381,195 $3,206,783,830
1990 $3,734,460,117 $2,737,087,862
1989 $4,375,896,552 $2,314,205,130
1988 $4,892,660,944 $2,008,189,508
1987 $5,024,800,000 $1,721,711,808
1986 $4,706,100,000 $1,722,586,299
1985 $4,328,300,000 $1,646,442,273
1984 $4,029,900,000 $1,758,028,656
1983 $3,840,550,000 $1,780,148,049
1982 $3,619,500,000 $1,717,379,495
1981 $3,501,800,000 $1,801,193,910
1980 $3,184,400,000 $1,801,156,775
1979 $2,778,900,000 -
1978 $2,393,650,000 -
1977 $1,900,700,000 -
1976 $1,589,300,000 -
1975 $1,330,050,000 -
1974 $1,243,000,000 -
1973 $1,128,299,436 -
1972 $1,030,645,362 -
1971 $958,450,000 -
1970 $904,400,000 -
1969 $844,400,000 -
1968 $815,450,000 -
1967 $750,950,000 -
1966 $692,150,000 -
1965 $651,050,000 -
1964 $591,100,000 -
1963 $553,500,000 -
1962 $532,450,000 -
1961 $503,300,000 -
1960 $475,650,000 -

Data sources: World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08).

GeoRank.org/economy/honduras/malawi | CC BY

GDP per capita in Honduras vs Malawi by year

Honduras
GDP per capita

GDP per capita, PPP
Malawi
GDP per capita

GDP per capita, PPP
1x
Year Current $
Honduras Malawi
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $3,598 - $672 -
2024 $3,416 $7,486 $522 $1,858
2023 $3,227 $7,178 $633 $1,830
2022 $3,003 $6,805 $604 $1,778
2021 $2,735 $6,203 $617 $1,688
2020 $2,308 $5,385 $603 $1,513
2019 $2,502 $5,785 $581 $1,450
2018 $2,465 $5,633 $533 $1,364
2017 $2,413 $5,621 $496 $1,380
2016 $2,307 $5,186 $451 $1,410
2015 $2,271 $4,846 $540 $1,403
2014 $2,180 $4,460 $530 $1,506
2013 $2,081 $4,137 $497 $1,558
2012 $2,126 $4,016 $558 $1,464
2011 $2,074 $3,901 $763 $1,516
2010 $1,893 $3,758 $683 $1,458
2009 $1,781 $3,656 $626 $1,388
2008 $1,732 $3,806 $554 $1,311
2007 $1,578 $3,664 $475 $1,231
2006 $1,426 $3,438 $441 $1,124
2005 $1,305 $3,204 $414 $1,071
2004 $1,215 $3,001 $405 $1,033
2003 $1,156 $2,821 $383 $979
2002 $1,132 $2,715 $428 $931
2001 $1,132 $2,645 $215.5 $924
2000 $1,093 $2,587 $224.2 $974
1999 $999 $2,372 $233.9 $961
1998 $989 $2,152 $236 $941
1997 $917 $1,959 $367 $915
1996 $813 $1,617 $321 $884
1995 $814 $1,329 $200.4 $825
1994 $736 $1,074 $169.2 $692
1993 $773 $838 $293 $746
1992 $782 $741 $258.4 $674
1991 $722 $684 $326 $732
1990 $750 $540 $286.7 $672
1989 $904 - $252.2 -
1988 $1,039 - $229.4 -
1987 $1,098 - $207.6 -
1986 $1,058 - $217.9 -
1985 $1,001 - $216.1 -
1984 $960 - $239.7 -
1983 $942 - $252.4 -
1982 $914 - $253.3 -
1981 $912 - $276.4 -
1980 $854 - $287.5 -
1979 $769 - - -
1978 $683 - - -
1977 $559 - - -
1976 $482 - - -
1975 $417 - - -
1974 $401 - - -
1973 $375 - - -
1972 $353 - - -
1971 $338 - - -
1970 $329 - - -
1969 $316 - - -
1968 $314 - - -
1967 $298.2 - - -
1966 $282.9 - - -
1965 $273.9 - - -
1964 $255.9 - - -
1963 $246.6 - - -
1962 $244 - - -
1961 $237.3 - - -
1960 $230.7 - - -

Data sources: World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08).

GeoRank.org/economy/honduras/malawi | CC BY

Honduras' GDP per capita is $3,598, ranking 137/197, compared to $672 in Malawi, ranking 190/197. Adjusted for purchasing power (GDP per capita PPP), Honduras ranks 146th at $7,486, while Malawi ranks 189th at $1,858.

Economic indicators

Honduras Malawi
Gross domestic product
$39.6B
2025
$14.9B
2025
GDP rank
104/197
2025
148/197
2025
GDP growth
3.75%
2024-2025
1.89%
2024-2025
GDP per capita
$3,598
2025
$672
2025
GDP per capita rank
137/197
2025
190/197
2025
GDP per capita, PPP
$7,486
2024
$1,858
2024
GDP per capita PPP rank
146/197
2024
189/197
2024
Government debt
$16.3B
2025
$11.7B
2025
Debt-to-GDP ratio
41.2%
2025
78.4%
2025
Government debt per person
$1,483
2025
$526
2025
Government debt per person rank
132/185
2025
166/185
2025
Average annual personal income after taxes
$2,887
2026
$1,255
2026
Income share by richest 10%
32.3%
2024
31%
2019
Income share by poorest 10%
1.2%
2024
2.9%
2019
Government expenditure, % of GDP
24.9%
2025
30.6%
2025
Consumer prices inflation
4.6%
2024-2025
28.4%
2024-2025
Central bank interest rate
5.75%
2024
24%
2026
Unemployment rate
4.85%
2025
15.4%
2024
Population
11279259
23086106

Spending and national debt comparison by year

Honduras
Spending

Debt
Malawi
Spending

Debt
1x
Year % of GDP
Honduras Malawi
Government spending Government debt Government spending Government debt
2025 24.9% 41.2% 30.6% 78.4%
2024 25.7% 41.5% 29.5% 87.6%
2023 27.2% 41.7% 25.5% 86.7%
2022 24% 46.9% 26.7% 75.7%
2021 28.8% 52.7% 23.7% 66.5%
2020 28.4% 53.5% 22.7% 53.9%
2019 25.9% 43.3% 19.3% 41.2%
2018 26.2% 42.4% 19.4% 40.8%
2017 26.9% 41.3% 21% 40%
2016 27.4% 39.4% 19.7% 37.1%
2015 26% 38.3% 19.5% 35.5%
2014 26.4% 35.2% 18.3% 33.5%
2013 28% 37.3% 20.7% 35.3%
2012 26.4% 27.1% 18.8% 28.6%
2011 25.9% 24.6% 17% 20%
2010 26.5% 21.8% 19.6% 19.3%
2009 28.4% 23.8% 20.2% 23.5%
2008 26.4% 22.3% 20.6% 23.5%
2007 24.4% 24% 20.7% 18.9%
2006 24.4% 39.2% 17.8% 17.9%
2005 23.6% 55.6% 17.4% 70.9%
2004 25.5% 60.9% 17.2% 74.7%
2003 26.4% 67.8% 15.4% 84.7%
2002 26.8% 64.2% 13.8% 101.5%
2001 25.1% 63.4% - -
2000 22.1% 65.8% - -
1999 23.3% 75.8% - -
1998 19.4% 67.4% - -
1997 19.4% 70.8% - -
1996 18.7% 64.6% - -
1995 17.2% 65.4% - -
1994 19% 85.5% - -
1993 24.5% 111.7% - -
1992 21.6% 123.2% - -
1991 20.8% 135.4% - -
1990 19.4% 236.5% - -
1989 10.2% 68.4% - -
1988 16% 71.7% - -
1987 17.2% 73.6% - -
1986 19.8% 69.9% - -
1985 22.5% 65.7% - -
1984 22.4% 60.5% - -
1983 20.8% 57.6% - -
1982 18.7% 54.3% - -
1981 15.3% 48.1% - -
1980 16.2% 41% - -
1979 14.4% 36.1% - -
1978 13.1% 32.8% - -
1977 14.6% 28.2% - -
1976 11.5% 26.5% - -
1975 11.9% 24% - -
1974 11.7% 18.5% - -
1973 11.1% 16.6% - -
1972 12.6% 16.8% - -
1971 15.2% 19.8% - -
1970 15.2% 17.2% - -
1969 13.6% 13% - -
1968 11.6% 9.75% - -
1967 11.4% 9.72% - -
1966 11.4% 9.47% - -
1965 10.6% 8.97% - -
1964 11.4% 9.78% - -
1963 10.1% 9.02% - -
1962 10.5% 8.54% - -
1961 11.2% 8.22% - -
1960 12.2% 8.97% - -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1960–1989, retrieved 2026-07-08).

GeoRank.org/economy/honduras/malawi | CC BY

In 2025, Honduras' government spending was $9.87B, accounting for 24.9% of its GDP, while Malawi spent $4.56B, or 30.6% of GDP.

Debt-to-GDP ratio is 41.2% in Honduras and 78.4% in Malawi, ranking 128/185 and 47/185, respectively.

Government deficit by year

Deficit/surplus
Honduras

Malawi
1x
Year Deficit/surplus, % of GDP
Honduras Malawi
2025 -0.74% -11.5%
2024 -1.12% -11%
2023 -1.96% -7.84%
2022 1.57% -9.32%
2021 -3.17% -8.34%
2020 -4.58% -8.03%
2019 0.09% -4.55%
2018 0.2% -4.35%
2017 -0.41% -5.15%
2016 -0.4% -4.9%
2015 -0.78% -4.17%
2014 -2.81% -3.08%
2013 -5.48% -3.73%
2012 -3.48% -1.45%
2011 -2.94% -2.85%
2010 -3.37% 0.63%
2009 -4.86% -2.97%
2008 -0.27% -2.92%
2007 -0.25% -2.56%
2006 -1.36% -0.05%
2005 -0.03% -1.63%
2004 -2.48% -2.61%
2003 -5.09% -2.6%
2002 -5.02% -4.47%
2001 -3.12% -
2000 1.51% -
1999 1.38% -
1998 2.89% -
1997 0.08% -
1996 0.13% -
1995 -0.24% -
1994 -0.97% -
1993 -5.21% -
1992 -1.49% -
1991 -2.16% -
1990 -2.15% -
1989 2.08% -
1988 -2.65% -
1987 -3.23% -
1986 -5.92% -
1985 -8.58% -
1984 -9.33% -
1983 -9.1% -
1982 -6.17% -
1981 -2.5% -
1980 -2.52% -
1979 -1.55% -
1978 -0.68% -
1977 -2.55% -
1976 -0.93% -
1975 -1.78% -
1974 -0.27% -
1973 -0.71% -
1972 -2.37% -
1971 -3.51% -
1970 -3.24% -
1969 -2.16% -
1968 -0.38% -
1967 -0.73% -
1966 -0.45% -
1965 0.19% -
1964 -1.77% -
1963 -0.39% -
1962 -0.71% -
1961 -1.05% -
1960 -1.22% -
1959 -1.31% -
1958 -1.16% -
1957 -1.01% -
1956 -1.81% -
1955 -0.42% -
1954 -2.91% -
1953 -2.96% -
1952 -3.21% -
1951 -1.04% -
1950 -0.44% -
1949 -1.92% -
1948 0.52% -
1947 -0.83% -
1946 0.32% -
1945 0% -
1944 -0.82% -
1943 -0.48% -
1942 0% -
1941 -0.26% -
1940 -0.43% -
1939 -0.52% -
1938 -0.74% -
1937 -1.37% -
1936 -0.76% -
1935 0% -
1934 0.06% -
1933 2.06% -
1932 -2.13% -
1931 -0.94% -
1930 -1.15% -
1929 -0.38% -
1928 0.72% -
1927 0.37% -

Data sources: International Monetary Fund (IMF) | Public Finances in Modern History (1927–1989, retrieved 2026-07-08); International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08).

GeoRank.org/economy/honduras/malawi | CC BY

In 2025, Honduras' government deficit, the difference between spending and revenue, was $295M, equivalent to 0.74% of GDP. This compares to Malawi's deficit of $1.71B, or 11.5% of GDP.

Over the past 24 years, Honduras recorded a fiscal deficit in 21 of those years, while Malawi ran a deficit in 23 years. On average, Honduras posted an annual deficit equal to 2.03% of GDP, compared to deficit of 4.56% of GDP for Malawi.

Inflation comparison by year

Inflation
Honduras

Malawi
1x
Year Consumer prices inflation
Honduras Malawi
2025 4.6% 28.4%
2024 4.61% 32.2%
2023 6.66% 28.8%
2022 9.09% 20.8%
2021 4.48% 9.3%
2020 3.47% 8.6%
2019 4.37% 9.4%
2018 4.35% 9.2%
2017 3.93% 11.5%
2016 2.72% 21.7%
2015 3.16% 21.9%
2014 6.13% 23.8%
2013 5.16% 28.3%
2012 5.2% 21.3%
2011 6.76% 7.6%
2010 4.7% 7.4%
2009 5.5% 8.4%
2008 11.4% 8.7%
2007 6.94% 7.9%
2006 5.58% 13.9%
2005 8.81% 15.5%
2004 8.11% 11.4%
2003 7.67% 9.6%
2002 7.69% 14.7%
2001 9.67% 22.7%
2000 11% 29.6%
1999 11.7% 44.8%
1998 13.7% 29.8%
1997 20.2% 9.1%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2025, retrieved 2026-07-08); World Bank | Economy & Growth (1997–2025, retrieved 2026-07-08).

GeoRank.org/economy/honduras/malawi | CC BY

Over the past 29 years, Honduras has recorded an average annual inflation rate of 7.15%, compared with 17.8% in Malawi. In 2025, inflation was 4.6% in Honduras and 28.4% in Malawi.

Balance of trade

Honduras Malawi
Current account balance
$936M
2025
-$2.13B
2024
Current account balance ranking
50/190
2025
143/190
2024
Current account balance, % of GDP
+2.36%
2025
-18.8%
2024
Goods imports
$15.4B
2025
$3.02B
2024
Goods exports
$6.88B
2025
$1.02B
2024
Service imports
$4.1B
2025
$895M
2024
Service exports
$3.89B
2025
$508M
2024
Imports of goods and services, % of GDP
56.5%
2025
28.8%
2025
Exports of goods and services, % of GDP
35%
2025
10.6%
2025

Economic freedom indices

The indices of economic freedom below are issued by the Heritage Foundation. Higher scores indicate stronger economic health.

Honduras Malawi
Economic freedom 59.1 50.7
Economic freedom ranking 105/197 159/197
Property rights 35.7 49.5
Government integrity 24.6 35
Judicial effectiveness 27.6 51.8
Tax burden 83.1 77
Government spending 80.3 77.8
Fiscal health 95.2 4.7
Business freedom 59.4 34.1
Labor freedom 37.9 55.2
Monetary freedom 70.1 55.1
Trade freedom 69.8 68.6
Investment freedom 65 50
Financial freedom 60 50

Economic freedom comparison by year

Honduras
Malawi
1x
Year Economic freedom index
Honduras Malawi
2026 59.1 50.7
2025 59.6 50.9
2024 58.6 52.1
2023 58.7 52.8
2022 59.5 53
2021 59.8 53
2020 61.1 52.8
2019 60.2 51.4
2018 60.6 52
2017 58.8 52.2
2016 57.7 51.8
2015 57.4 54.8
2014 57.1 55.4
2013 58.4 55.3
2012 58.8 56.4
2011 58.6 55.8
2010 58.3 54.1
2009 58.7 53.7
2008 58.9 52.7
2007 59.1 52.9
2006 57.4 55.4
2005 55.3 53.6
2004 55.3 53.6
2003 60.4 53.2
2002 58.7 56.9
2001 57 56.2
2000 57.6 57.4
1999 56.7 54
1998 56.2 54.1
1997 56 53.4
1996 56.6 56.2
1995 57 54.7

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08).

GeoRank.org/economy/honduras/malawi | CC BY

The Economic Freedom Index for Honduras is 59.1, ranking 105/197, compared to 50.7 for Malawi, ranking 159/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Honduras Malawi
Services, % of GDP
57.6%
2025
48.7%
2025
Industry, % of GDP
25.4%
2025
14.3%
2025
Agriculture, forestry, and fishing, % of GDP
13.3%
2025
30%
2025
GNI, Atlas method
$36B
2025
$13.4B
2025
GNI per capita, PPP
$7,270
2025
$1,880
2025
Total reserves including gold
$10.2B
2025
$594M
2020
Total reserves ranking
78/177
2025
154/177
2020
Net foreign direct investment
-$810M
2025
-$202M
2024
Net inflows of foreign direct investment
$478M
2024
$258M
2024
Net outflows of foreign direct investment
-$49.4M
2024
$56.4M
2024
Servicing debt to the IMF, % of GNI
5.23%
2024
1.47%
2024
Poverty at national poverty lines
60.1%
2025
50.7%
2019
Gross capital formation, % of GDP
24.2%
2025
15.7%
2025

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2025, retrieved 2026-07-08); U.S. Census Bureau (1985–2025, retrieved 2026-07-08).

GeoRank.org/economy/honduras/malawi | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08)
  3. International Monetary Fund (IMF) | Public Finances in Modern History (1927–1989, retrieved 2026-07-08)
  4. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08)
  5. U.S. Census Bureau (1985–2025, retrieved 2026-07-08)
  6. United Nations | World Population Prospects (2026, retrieved 2026-07-08)
  7. LivingCost (2026, retrieved 2026-07-08)

Creative Commons Attribution (CC BY) — you’re free to copy, share, remix, adapt, and use even commercially as long as you give appropriate credit and clearly indicate if you made changes. Other sources may be subject to different license terms.

The current account balance is the sum of net trade in goods and services, net earnings from cross-border investments, and net transfer payments. It reflects a country's economic transactions with the rest of the world and is a fundamental component of the balance of payments. A surplus indicates that a country exports more than it imports, while a deficit shows the opposite.

Gross National Income (GNI) measures a country's total income. It encompasses income earned by residents, businesses, and foreign sources, defined as employee compensation and investment profits. GNI adds product taxes not included elsewhere and subtracts subsidies. It accounts for income from residents working abroad but excludes earnings from foreigners within the country.

A negative value for Net Foreign Direct Investment indicates a country is a net receiver of investments, as foreign inflows exceed outflows after Balance of Payments adjustments. A positive value indicates a net provider, with outflows exceeding inflows. Inflows are credits (increasing foreign claims on domestic assets), while outflows are debits (increasing domestic assets abroad).

Foreign direct investment (FDI, net inflows) shows how much capital foreign investors bring into a country after accounting for any funds that flow back in the opposite direction. It represents the net value of overseas companies establishing, expanding, or financing businesses in the reporting country. A positive number means more capital entered the country than was withdrawn, while a negative number means foreign investors pulled out more than they invested.

Foreign direct investment (FDI, net outflows) shows how much capital residents of a country invest abroad after accounting for any funds that flow back in the opposite direction. It represents the net value of domestic companies establishing, expanding, or financing businesses in other countries. A positive number means more capital was invested abroad than withdrawn, while a negative number means residents pulled back more than they invested.

Principal and interest payments to the IMF in currency, goods, or services on long-term debt expressed as a share of GNI.

Formerly gross domestic investment, gross capital formation measures the share of a country’s economic output invested in fixed assets, including buildings, machinery, and infrastructure. It indicates how much of the economy is devoted to building productive capacity.